IV. International
(2-01-10)
. Asia
contributes most growth
in the global advertisement industry. In his
interview with China Daily during the World
Economic Forum in Davos, Switzerland, John Wren,
president and CEO of Omnicom Group, Inc., one of
the largest global advertising and communication service
groups, said Asia has been contributing the most growth
in the global ad industry 2009-2010.
.
G20
made a series of announcements since 2008 but actions
that have followed up are fragmented. Banking experts
say the Nov G20 summit in South Korea will be a
test of the proposed reform. Investment, especially
private equity, flowing into developing economies is
expected to rise sharply, bringing with it the danger of
an early stage of another global financial bubble.
.
Large Asian firms held tight to cash as uncertainty
remained over the global economy, despite repeated calls
from their governments to increase investment.
. China’s
Foreign Minister Yang
Jiechi expressed his solemn position on the US arms
sales to Taiwan, urging the US to stop selling weapons
to the Chinese province. The sale is worth $6.4
billion to the US. Yang said that it constitutes
unduly interference in China’s internal affairs, and
harm China’s national security and peaceful
reunification efforts.
.
China will impose
sanctions on those companies involved in the US arms
sales to Taiwan. Some US arms merchants have actually
been kept outside the Chinese market for almost a decade
despite the rapid increasing airport construction in
China that needs radar.
.
China will put more investment subsidies, fiscal &
policy supports into vast rural areas this year, with
aims to better coordinate urban and rural development,
the central government said. It will continue to enhance
financial support to agriculture and farmers, improve
agricultural subsidy system & maintain a good order in
farm produce.
.
Premier Wu Du-yih of
Taiwan said that the government will stick to the
principle of buying military weapons that meet their
defense needs at reasonable prices.
.
The Republic of China (R.O.C.) Navy denied a media
report that the nation’s naval battleships detected a
suspected Chinese submarine in Southwest Taiwan during a
military exercise on Jan. 27.
.
The US has announced a $6.4 billion package of weapons,
including PAC-3 missiles, to be sold to Taiwan, drawing
a strong protest from China.
. While US drivers are
alarmed by Toyota’s ballooning recalls, the reaction in
Japan—where no such recalls have been issued—has
been understandably muted. Toyota Motors Corp
uses a different parts supplier than CTS Corp, the
American parts maker that had been rushing to fix the
faulty parts behind the massive recalls.
. Japanese
and Chinese academics finally released a joint history
report that curves each other’s views but fails to set
the number of those killed in the 1937 Nanjing massacre.
.
Japan’s lion dances (there are about 7,800 of them) all
have their own style but the purpose is mainly the same.
The shishi dances act as a prayer to ward off
evil spirits.
. South Korea’s
president
said he’s willing to meet with North Korea’s leader to
discuss its nuclear weapons program despite a recent
flare-up in border tensions.
.
UN Secretary-General
Ban-Ki-mon will send a special envoy to North Korea next
week, his office said amid international effort to bring
Pyongyang back into disarmament talks on its nuclear
weapons program.
.
Cash piles grew sharply at big Korean firms last year as
they were reluctant to invest despite strong profits,
data show. Only 3 of the 15 companies saw declines in
their cash levels during the same period.
.
More than 400 militiamen
loyal to the Ampatuan’s in the Philippines have
joined the MILF (Moro Islamic Liberation Front) in
racing against government troops to retrieve the clan’s
arsenal buried in various parts of Maguindanao, the
military said.
.
The Comelec has set for Feb. 11, 2010 the organization
of SBC in each of the more 100 countries where there are
OFW’s (overseas foreign workers) qualified to vote under
the Overseas Absentee Voting Act of 2003.
.
Urban dwellers n Manila will double to 12.9 million by
2015, from only 6.8 million in 1985 when most cities in
Asia already showed a resurgence of growth.
.
A large shipment of
North Korean weapons seized at the Don Mueany Airport (Thailand)
in Dec was bound for an airport in Iran, according to a
Thai government report submitted to the United Nations.
.
The Treasury Dept. is currently studying the possibility
of producing new 20-baht coins. Finance Ministry
officials said talks have yet to be opened with the
Bank of Thailand about the issue. It is also likely
to move forward with plans to produce a new lot of 2-
and 5-baht coins. It already produces 10-baht
coins.
.
An ethics code will sail through Parliament and likely
won’t change much, except that the public may learn when
cases are raised against the MPs (Members of Parliament)
.
Around 7,000 followers
of the country’s largest Islamic organization,
Nahdlatul Ulama, attended a mass prayer at the
Bulungan Sports Center in South Jakarta 1/31 for the
welfare of Indonesia.
.
Religious Affairs Minister (Surgadharma Ali) said that
Indonesia may still need a blasphemy law in order to
maintain harmony among religious followers, especially
among Muslims. He doesn’t want the current peace and
harmony among religious followers to be disrupted by
various unwanted religious sects in order not to
endanger national security.
.
State construction company PT Pembangunan Perumahan
(PP) has targeted to raise Rp 581 billion (US$63
million) from its initial public offering (IPO) of
shares slated for early this month of Feb.
. India
sets targets to reduce
the intensity of its carbon emissions by 20 to 25
percent by 2020 from 2005 levels, meeting a deadline for
developing countries to set voluntary carbon-curbing
actions.
.
India urgently needs a
well-trained special police force to deal with cyber
crimes and implementation of laws against crimes in the
virtual world. India needs it urgently, following the
footsteps of the US and SK.
.
Fearing abuse of the
visa program, the UK announced a temporary suspension of
student visas in North India. US Border Agency (UKBA)
officials said the dramatic step was necessitated after
an unexpected spurt in student visa requests over the
past couple of months, leading to the suspension of
fraudulent applications.
.
The Executive Director
of the State Bank of Pakistan (Asad Qureshi)
projected that the SBP’s foreign exchange reserves will
be reaching $15 billion by the of Jan this year, while
answering questions during a press conference on the
Monetary Policy.
.
The Oil & Gas
Regulatory Activity (OGR) raised 1/31 petroleum
products’ prices, with a substantial hike of Rs6.10 per
liter in petrol prices. According to a notification
issued by OGRA, HOBC was also increased by Rs7.41, light
diesel by Rs2.97, and the price of kerosene oil was
raised by Rs3.32 per liter.
.
Rising inflation fears coupled with uncertainty in
liquidity outlook due to slowdown in disbursement of
aid and loans has forced the State Bank of Pakistan to
keep its policy rate unchanged at 12.5% as it struggles
to sustain growth and keep inflation in check.
.
The UNP called for Pres.
Mahinda Rajapakra’s personal involvement in Sri Lanka
to prevent UPFA supporters from investigating
post-polls violence in government departments and
statutory boards.
.
Government statistics office announced last week that
headline inflation has increased to 6.5% in Jan 2010
from 4.8% in Dec 2009 as food prices increased by more
than 4% year on-year.
.
Spot rates on the Asia-Europe container trade are
expected to touch $2,000 per teu in two months,
according to Danske Bank’s container rate index.
They are currently at $1,763 which is 4% higher than
last week’s figure, while the average rate level over
the last four weeks is $1,682.
.
Winter in the US is
summer in Australia. It has been a “horror
summer” for drowning deaths, says the Royal Life
Saving Society. More than 300 drowned last year, the
highest figure in 6 years.
. New Zealand’s
government has no plans to follow Australia, UK and
Japan in contributing to an international fund aimed at
paying Taliban fighters to give up their arms in
Afghanistan.
.
Bankruptcy filings in
Guam (CNMI) are up 68%. Medical bills and job
losses contribute to the debt burden.
